Yatharth Hospital & Trauma Care raises Rs 120 crore in pre-IPO round

Published On 2023-07-10 09:00 GMT | Update On 2023-07-10 09:19 GMT

New Delhi: Yatharth Hospital & Trauma Care on Saturday said it has raised Rs 120 crore from institutional investors in a pre-IPO placement round, leading to a reduction in the fresh issue size in the upcoming initial share-sale. "Our company, in consultation with the book running lead managers, has undertaken a pre-IPO placement of 40 lakh equity shares for cash for Rs 300 per equity...

New Delhi: Yatharth Hospital & Trauma Care on Saturday said it has raised Rs 120 crore from institutional investors in a pre-IPO placement round, leading to a reduction in the fresh issue size in the upcoming initial share-sale. "Our company, in consultation with the book running lead managers, has undertaken a pre-IPO placement of 40 lakh equity shares for cash for Rs 300 per equity share aggregating to Rs 1,200 million (pre-IPO placement)," Yatharth Hospital said in a public notice.

In the pre-IPO placement round, the company has allotted 20 lakh equity shares amounting to Rs 60 crore to Plutus Wealth Management LLP and 10 lakh equity shares worth Rs 30 crore to Think India Opportunities Master Fund LP.

In addition, shares to the tune of Rs 13 crore have been allotted to Rosy Blue Diamonds Pvt Ltd, and shares worth Rs 10 crore and Rs 7 crore allocated to Vikas Vijaykumar Khemani and Viraj Russell Mehta, respectively.

Following this, the size of the fresh issue has been reduced by Rs 120 crore to Rs 490 crore. Yatharth Hospital, which operates and manages private hospitals in Delhi-NCR, filed preliminary papers with capital markets regulator Sebi in March 2022 to raise funds through an initial public offering (IPO).

The IPO comprised a fresh issue of equity shares aggregating up to Rs 610 crore and an Offer For Sale (OFS) of up to 65.51 lakh equity shares by the company's promoters and promoter group entities.

The firm intends to utilise the net proceeds for repayment or prepayment in full or part of certain borrowings availed by the company and its subsidiaries, and for funding capital expenditure expenses, among others.

The proceeds will also be used for funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.

Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd, and IIFL Securities Ltd are the book-running lead managers for the IPO.

Read also: Yatharth Hospital gets SEBI green signal to launch Rs 610 crore IPO

Article Source : PTI

Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement/treatment or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2024 Minerva Medical Treatment Pvt Ltd

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

Comments Policy

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Yatharth Hospital & Trauma Care raises Rs 120 crore in pre-IPO round

Similar News